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Indian corporates are focused on digital transformation

September 25, 2021

Indian corporates are focused on digital transformation
Corporates in India have a digital transformation strategy in place, many are in process of implementing digital transformation strategies. 2021 survey expanded beyond large and middle-market companies to include a view of more than 1,000 SMEs to collect in-depth insights on digitalization trends and challenges. 
 
The third edition of the DBS digital readiness survey has revealed that there has been continued momentum in digitalization efforts by organizations across the Asia-pacific area, however, there remains room for further growth. The worldwide pandemic and lockdown accelerated the digital excursion for corporates and SMEs in India. 
 
Previously known as DBS Digital Treasurer survey, the study was conducted in June 2021 and involved around 2,600 corporate treasurers, CEO, CFOs, and entrepreneurs across 13 markets in APAC India, Australia, China, Japan, Hong Kong, Singapore as well as US and UK. 
 
The survey showed that nearly half of large corporates and small companies in India have a digital transformation strategy in place. The APAC region has witnessed seven in ten corporates with digital transformation strategy in place, with Taiwan leading the way at 95%. 
 
This is an increase as compared to the last year which was only 57%. There is also a significant jump in the proportion of businesses clearly defined digital strategies to greater than three in 10 companies. 

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